This Is Small Business

Latest Episodes:

How to Buy the Right Business for You May 21, 2024

Show notes

Considering buying a business? Whether it's your first venture or you’re trying to expand your business, it can be a game-changer. Just ask Brian Shields, an Acquisition Entrepreneur who knows what it takes to successfully buy a business. “Try to look at at least a hundred deals to help dial yourself in so you know what kind of risk you're willing to take, what kind of business plan you really feel comfortable with, what kind of industries you feel like make sense,” Brian says, “because once you get those under your belt, then you'll feel a little bit more sophisticated when the time really comes.”

We’ll dive into the essentials: from why you should consider buying a business to breaking down all the thorough due diligence and financing options so you can find the right business that works for you!

In this episode you’ll hear:

(00:35) How Brian bought his first business

(2:42) Why buying a business could be right for you

(5:06) Research and analysis (aka due diligence) that needs to get done before you buy a business

(6:39) Where you can find businesses to buy

(8:01) Brian breaks down what the due diligence process looks like by using a coffee shop as an example

(11:00) Three ways you can pay for the business you want to buy

(13:50) Andrea and Brian go over three points you should focus on when you’re trying to find a business to buy

7 Steps to Accelerate Your Small Business Growth - With Amy Porterfield May 14, 2024

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Expanding your business and drawing in more customers may seem overwhelming, but it doesn’t have to be! Just ask Amy Porterfield, New York Times bestselling author of Two Weeks Notice and Host of The Online Marketing Made Easy Podcast, who managed to increase her sales in only a year.

“The people who need you will find you, even if you put a stake in the ground.” Amy says. “If your message resonates with them, but doesn't fit perfectly, that's okay. If they like what you're saying and they find value, they will find you.”

Learn how you can replicate Amy’s growth by managing your mindset, creating a customer avatar, and growing your email list.

In this episode you’ll hear:

(00:45) How Amy started her business

(03:02) How negative thoughts can impede growth

(05:57) How to build your customer avatar

(08:11) How content creation helped Amy grow

(09:27) How to grow your email list

(12:16) Common mistakes that might affect your growth

The Growth Tool That Can Help You Increase Revenue: Email Lists - with Jenna Kutcher May 07, 2024

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Want to build a loyal following of people who are excited to buy what you're selling? Stop spending your valuable time on the wrong marketing channels, and prioritize an email list. So says Jenna Kutcher, a digital marketing expert and host of The Goal Digger Podcast. After attracting thousands of followers on social, but seeing so few convert to customers, Jenna learned about the power of owning an email list - and she hasn't looked back! It's the number one ways she drives sales in her business.

You'll learn how to start a list, where to find your first subscribers, and how to grow and maintain a list. Plus, the surprising benefits of an email list - beyond the high ROI.

(06:40) Where to find your first subscribers

(07:25) How to use your email list to test out new business ideas

(09:40) The TWO things you need to focus on as an entrepreneur

(11:00) Tacticts Jenna uses to drive followers from social and the podcast to her list

(14:30) How to make time for your email list

(15:50) Don't make these two mistakes with your email list!

(18:00) Convinced? Here's how to start your list

Learn how to go from zero subscribers to an engaged list that lasts. Sign up for Jenna's FREE Email Building Master Class at jennkutcher.com/list. It only happens once a year - don't miss out!

How Your Business Can Have an Impact May 01, 2024

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Ready to make a difference with your business but don’t know where to start? Just ask Thomas Ling, founder of Kin+Kind, who combined his passion for the environment and love of animals to create eco-friendly pet products. Thomas breaks down what makes a business sustainable, the importance of transparency and authenticity, and how you can start a business that does good in the world.

“It's important that we are running the kind of company that we want to see out in the world.” Thomas says.

Learn what it takes to be a clean business, and the benefits that come with it.

In this episode you’ll hear:

(01:09) Kin+Kind’s story.

(02:56) How Kin + Kind brings transparency and authenticity into their products.

(04:11) What are clean ingredients?

(06:34) Being a clean company is about more than using good ingredients, it’s also about how you treat your employees.

(07:25) What is greenwashing?

(09:15) How to start a sustainable business.

(10:50) The benefits of having a clean business.

How to Build Your Marketing Strategy Apr 30, 2024

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The more people see your products, the more sales you’ll probably get – and a marketing strategy can help you do that.

Just ask Elena Fahrländer, the Chief Commercial Officer of Danish Endurance, a company that sells their products worldwide. She’ll be sharing what they do to find their target audience and how their approach to marketing changed as they grew. You’ll also hear from Elizabeth (Liz) Downing, Founder of Hapworth Consulting and Director of Partnerships at The Ecom Cooperative. She’ll give more actionable advice on how to build your marketing strategy using realistic goal setting and data analysis.

“It's really important to look inward, really examine who you are as a business, and then set your goals and your expectations based on what you think you can achieve,” says Liz, “and it all comes down to the data.”

In this episode you’ll hear:

(02:18) Danish Endurance’s story

(04:02) How to find your target audience

(07:02) The importance of clear and realistic goals and budgeting when building your marketing strategy

(11:02) Starting out with a structured marketing strategy

(11:50) How and why Danish Endurance constantly updates their marketing strategy

Small Business Fun Facts: What to Know Before Starting a Small Business Apr 23, 2024

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Your small business (or idea if you haven’t started yet) is a lot more important than you think. Just ask Karen Kerrigan, the president and CEO of the Small Business & Entrepreneurship Council. She’ll be sharing a ton of fun facts about how small businesses drive innovation, help the economy, and create jobs. You’ll also hear from Kylie Jiwon Hwang, an Assistant Professor at the Northwestern University Kellogg School of Management. She’ll give us more insights on how entrepreneurship can help marginalized individuals and how starting your own business can benefit your community.

Get a quick refresher on why the work you’re doing (or planning to do!) is important and learn all the benefits and challenges you might encounter on your entrepreneurial journey.

In this episode you’ll hear:

(01:42) Why Small Businesses are important.

(04:27) Why Marginalized individuals are gravitating towards entrepreneurship and the benefits that come with it.

(07:33) Challenges that you might face when starting a business.

(10:48) How technology has been helping small business owners overcome some of the challenges they face.

(14:41) The importance of being prepared before starting a business.

How a Small Business Owner Can Do More for Their Employees Apr 16, 2024

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Aside from a regular paycheck, what more can you do for your employees? And can going the extra mile for them really help your business' bottom line? Listen in to hear from brothers and founders of Mr. Tortilla, Ron and Anthony Alcazar. Their approach to business was formed at an early age, while watching their parents work hard with no buy-in. And then we’ll speak with Ludmila Praslova, PhD. Professor of Industrial Organizational Psychology, and author of The Canary Code: A Guide to Neurodiversity, Dignity, and Intersectional Belonging at Work.

"Imagine having to walk in shoes that are extremely big or way too small, way too wide, way too narrow" said Ludmila. "That's painful, that's not comfortable, …flexibility just makes sense."

In this episode you’ll hear:

(00:43) Why Mr. Tortilla wanted to take care of their employees

(03:26) How it’s good for business to prioritize a healthy workplace

(04:58) The bare minimum an employer could do for its employee

(06:40) The importance of flexibility and how to implement it into your company

(12:18) How to start a conversation with your employee about their needs

What You Need to Know About Audits Apr 09, 2024

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Dealing with audits doesn’t have to be scary as long as you’re prepared for it. Just ask Erick O. Bell, an accounting professor at the Haas School of Business at UC Berkeley, who used to work at KPMG LLP in the Audit Risk Advisory Services. Erick simplifies everything you need to know about audits – even the IRS audit – so it doesn’t feel as daunting. “Most audits that are happening. They're not audits that are at odds with each other,” Erick says. “A typical audit generally is just, you've made an assertion. Can we verify that that assertion is accurate?”

Learn about typical audits, how to navigate them, and when you might need them.

In this episode you’ll hear:

(01:00) When should you get an audit

(03:45) About IRS audits

(07:36) How to navigate a typical audit

How a Patent Can Protect Your Idea Apr 02, 2024

Show notes

Getting a Patent can be a complicated and expensive process, but it can protect your idea as you work on bringing it to market. Just ask Becca Davison, the CEO of UnbuckleMe, who got a patent early on in her small business journey. Becca explains how she came up with UnbuckleMe, why she decided to patent her idea early on, and what that process looked like for someone who was new to entrepreneurship. You’ll also hear from Colleen Chien, a professor at Berkeley Law School and the founder of the Paper Prisons and Diversity Pilots Initiatives. Colleen digs deeper into how a patent can protect your idea and breaks down everything you need to know before and during your patent application.

Learn whether you should even get a patent, how you can protect your idea from copycats, and what the patenting process looks like.

In this episode you’ll hear:

(00:38) What is a patent?

(02:29) How Becca came up with UnbuckleMe

(05:28) The different types of Patents

(06:45) The process of filing a patent

(11:46) Why copycats can still show up even after you get a patent

(13:28) How to protect your idea from copycats

(14:41) The difference between copycats and competitors

Why Public Relations Matter Mar 26, 2024

Show notes

Accidents happen, we make missteps, sometimes our brands are tarnished. So how do we prepare for the inevitable and mitigate impact? Indya ‘Icy’ Wright, the Founder and CEO of Artiste House, a PR firm that prioritizes diversity, inclusivity, and representation, has some answers.

According to Wright, “all we can do is try to minimize the results of what happened, rectify it, and if things go well, move forward.”

In this episode you’ll hear:

(02:35) How do you figure out what your story is?

(05:22) How do you determine which issues to take a stance on publicly?

(07:52) You never know when a crisis will strike, how do you prepare?

(08:27) After a crisis, how do you deal with the potential loss of business?